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China : Hu An Cable secures US$14.63 mln contract
Publish Date : 07-Sep-2012
China based cable manufacturing company Hu An Cable Holdings Ltd has secured an order worth 92.8 million yuan (S$18.2 million) from Shanghai Municipal Electrical Power Company, a subsidiary of State Grid Corporation of China.
The new order, signed under Hu An Cable\'s wholly owned subsidiary, Wuxi Hu An Wire and Cable Co Ltd, is to supply 325 km of low-voltage power cables to various projects in Shanghai, China. The deliveries are expected to take place in 2012 and 2013.
The latest order comes after a 105.6 million yuan contract signed in August 2012 with China Power Investment Corporation, and a 103.1 million yuan contract signed in July 2012 with Hubei Province Electric Power Company.
Said Dai Zhixiang, executive chairman and CEO of Hu An Cable: \"Securing three major contracts in such a short period is a sign of the acceleration of government infrastructure investment and strong industry recognition of our capabilities.\"
With the monetary-easing measures launched by the central bank since November 2011, China has once again returned to the path of investment-led economic stimulus to drive growth.
\"We are fairly optimistic that the recent economic stimulus policies will benefit domestic infrastructure players like us in the near future,\" Mr Dai said.
